|
EXL EXLD
EXL
EXL - Excellerate - Conversion of unsecured, compulsorily convertible debentures
into ordinary shares and declaration of interest
Excellerate Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/009884/06)
Share code: EXL ISIN: ZAE000026092
Debenture code: EXLD ISIN: ZAE000044145
("Excellerate" or "the Company")
Conversion of unsecured, compulsorily convertible debentures ("debentures") into
ordinary shares and declaration of interest
Debenture holders are advised that the effective date of the compulsory
conversion of the debentures into Excellerate ordinary shares is the close of
business on Tuesday, 30 January 2007, being the 7th business day following the
4th anniversary of the issue date ("the conversion"). Given current market
conditions, it has been assumed that the Company will issue to a debenture
holder one ordinary share for each debenture held. The conversion ratio will be
one ordinary share for every debenture held should the 30 day volume weighted
average price of the ordinary shares traded on the JSE Limited up until and
including 29 January 2007 ("the VWAP") be equal to or above R0.55. Should the
VWAP up until and including 29 January 2007 be less than R0.55, debenture
holders will be advised of the revised conversion ratio on 30 January 2007.
Interest on the debentures for the period 20 July 2006 to 21 January 2007 of
3.03397 cents per debenture will be paid on 22 January 2007, details of which
were set out in an announcement published on SENS on 14 December 2006.
In addition, a final interest payment for the period 22 January to 29 January
2007, of 0.14772 cents per debenture will be paid on Wednesday, 7 February 2007
("the final interest"). The interest rate applicable is the six month JIBAR as
quoted on 12 January 2007 by Nedbank Limited (being the last practicable date
prior to the finalisation of the final interest payment) of 9.504%, plus 2.75
percentage points, totalling 12.254%.
Details of the salient dates and times relating to the conversion and the final
interest payment are set out below. A circular containing further information
regarding the conversion and final interest will be posted to Excellerate
debenture holders on or about Wednesday, 17 January 2007.
2007
Details of the conversion and final
interest published on SENS and published
in the press on the following business Monday, 15 January
day
Circular posted to Excellerate debenture
holders on Wednesday, 17 January
Last day to trade to participate in the
conversion of debentures into ordinary Tuesday, 30 January
shares and to receive the final interest
payment
Effective date of the conversion of
debentures into ordinary shares from the Tuesday, 30 January
close of business on
Trade in debentures suspended and ceases
and listing of and trade in new ordinary Wednesday, 31 January
shares to commence from commencement of
business on
Record date to participate in the
conversion of debentures into ordinary
shares and to receive the final interest Tuesday, 6 February
payment
Final interest transferred to the
dematerialised debenture holders` CSDP or Wednesday, 7 February
brokers` account on
Dematerialised Excellerate debenture
holder CSDP or broker accounts credited
regarding new ordinary shares issued
following the conversion of the Wednesday, 7 February
debentures into ordinary shares
Listing of debentures terminated from
commencement of business on Wednesday, 7 February
Note:
The dates and times provided for in this announcement are subject to amendment.
Any such amendment will be published on SENS and in the press. Debenture holders
will not be able to dematerialise or rematerialise their Excellerate debentures
after Tuesday, 30 January 2007.
Johannesburg
15 January 2007
Investment bank and sponsor
Nedbank Capital
Corporate law advisers
Edward Nathan Sonnenbergs
Date: 15/01/2007 15:26:34 Produced by the JSE SENS Department.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
